Cosmo Films announces Q2FY19 profit of Rs 10.1 cr;
Income increased by 14% to Rs 531.4 cr (YoY)
In Rs. Crores
|
Q2 FY19
|
Q1 FY19
|
Q2 FY18
|
Net Revenue
|
531.4
|
517.6
|
467.2
|
EBITDA
|
43.2
|
43.4
|
**54.5
|
PAT
|
10.1
|
10.1
|
**20.4
|
EPS (in Rs.)
|
5.3
|
5.3
|
10.6
|
** Includes INR 12.2 crores one time gain on account of re-computation of sales tax exemption benefit related to previous years.
Chennai, November 12th, 2018: Cosmo Films Limited, a global leader in films for packaging, labeling & lamination applications and synthetic paper today declared its financial results for the quarter ended September 30, 2018.
During Q2 FY19, net revenue increased by 14% YOY due to partial pass through of increase in raw material prices, increase in sales volume and better sales mix. Domestic commodity film margins declined further on Y-o-Y basis, the Company could however, maintain EBITDA (excluding one-time item) primarily from enhanced operational efficiencies, better sales mix and tax incentives on new investment.
Commenting on the financial performance of the company Mr. Pankaj Poddar, CEO, Cosmo Films Ltd. said, “The Company is navigating the tough times emanating from extremely poor commodity pricing in domestic market and remained focus on improving sales mix, focusing on internal efficiencies and increasing international sales. Though predictions cannot be made on domestic commodity margins, demand and supply is expected to balance out over next 3-4 Quarters. The improvement in overseas subsidiaries operations is encouraging and we expect further growth in sales in the overseas subsidiaries’’.
About Cosmo Films Limited
Established in 1981, Cosmo Films is a global leader in specialty films for packaging, lamination and labeling applications. With engineering of innovative products and sustainability solutions, Cosmo partners with world’s leading F&B brands, packaging & printing converters to enhance their consumer experience.
Company’s film offering include BOPP, CPP and soon to be launched BOPET films. Today, the company is the largest exporter of BOPP films from India and also the largest producer of thermal lamination films in the world. Its customer base is spread in more than 100 countries with plant cum distribution centres in India, U.S, Korea & Japan.***
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